ST-Ericsson to Cut 1,700 Jobs in Chip Struggle With Qualcomm

ST-Ericsson to Cut 1,700 Jobs in Chip Struggle With Qualcomm

Chris Ratcliffe/Bloomberg

A visitor passes the ST-Ericsson AB pavilion at the Mobile World Congress in Barcelona, Spain. The company will reduce selling, general and administrative expenses by about 25 percent compared to 2011 also by “substantially reducing positions within the top paid management.”